TRREB’s September GTA Data.
Toronto, October 13 , 2020
By Ivan Kalinin
This is the third month that the real estate in the GTA has been going up. July we have seen a 17% increase in prices, August they went up a further 20%. Last month, the prices jumped up another 14%.
With that being said and disregarding the full picture, the market segmentation could not be more evident during the COVID-19 pandemic. For example, Toronto condo market is still a buyers’ market, even though the condos went up 7% – there is still a lot of surplus of units for sale in the city.
Improving economic conditions and low borrowing costs are the main contributors to the busy market that we are dealing with at the moment.
The partial lockdown that has been reintroduced this month may slow things down a bit, but I can’t see that it will be as significant as during the first lockdown in March. The people already know what to expect and there definitely less uncertainty on the market.
If you like talking real estate half as much as I do and are going to participate in the market in 2020, come chat and have a coffee. And if you are looking for a property as an investment, remember our super-popular private investment tours now booking in early 2020. Click here to book.
Ivan Kalinin is a sales agent at Key Toronto Real Estate Group. Zoocasa Realty Inc. – Brokerage independently owned and operated, He can be reached at 416 858 8085. Not intended to solicit clients already under contract.